Market Overview
Home Prices in Boones Mill, VA
The median home value in Boones Mill, VA is $338,739 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.6% compared to a year ago and up 3.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Boones Mill are priced17% below average. Boones Mill is part of the Roanoke, VA metro area.
Over the past five years, Boones Mill home values have risen by approximately37.7%, reflecting strong long-term appreciation in this market.
Price History
Boones Mill Home Price Trend
City Comparison
Boones Mill vs. National Median
At $338,739, homes in Boones Mill cost 17% below the national median of $410,000. This makes Boones Mill a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Boones Mill?
20% Down Payment
$67,748
on $338,739
Monthly P&I
$1,767/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,244/mo
incl. taxes & insurance
Income Needed
$89,760
gross annual (30% rule)
10% Down Option
$33,874
+ PMI applies
Loan Amount (20% dn)
$270,991
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Boones Mill, VA?
The median home value in Boones Mill is $338,739 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.6% year-over-year.
How much have home prices changed in Boones Mill?
Over the past year, home values in Boones Mill have increased by 5.6%. Over five years, prices have risen approximately 37.7%.
How much do I need to earn to buy a home in Boones Mill?
To comfortably afford the median home price of $338,739 with a 20% down payment ($67,748) at today's rates (6.8%), you'd need a gross annual income of approximately $89,760. This assumes keeping total housing costs at or below 30% of gross income.
How does Boones Mill compare to the national average home price?
The national median home value is approximately $410,000. At $338,739, homes in Boones Mill are 17% below the national average.
What metro area is Boones Mill part of?
Boones Mill is part of the Roanoke, VA metropolitan area. Home prices and market conditions can vary across the broader metro region.